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Correcting Lower *RES 4: 123.59......>

EURO-YEN TECHS
EURO-YEN TECHS: Correcting Lower
*RES 4: 123.59 Bull channel top drawn off the Sep 3 low
*RES 3: 122.80 1.382 projection of Sep 3 - Sep 13 rally from Oct 3 low
*RES 2: 122.65 High Dec 13 and bull trigger
*RES 1: 122.05 High Dec 19
*PRICE: 121.28 @ 15:55 GMT Dec 23
*SUP 1: 121.08 Intraday low
*SUP 2: 121.02 High Dec 2
*SUP 3: 120.76 Low Dec 12
*SUP 4: 120.38 Low Dec 11
EURJPY is correcting however despite this, a bullish outlook is maintained. The
cross recently cleared key resistance at 121.48, Oct 21 high. This confirmed a
resumption of the uptrend and opens the top of the bull channel, currently at
123.59. The channel is drawn off the Sep 3 low. Given the recent pullback
however, a break of 122.65, Dec 13 high is also required to reinforce current
bullish conditions. Next support is at 121.02.

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